USD/ILS may rise 230 - 333 pips

Our pivot point is at 3.7566.

Our preference

As long as 3.7566 is support look for 3.8136.

Alternative scenario

The downside breakout of 3.7566 would call for 3.7393 and 3.7290.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.7773 and 3.7752).

Supports and resistances

3.8343 **

3.8240 *

3.8136 **

3.8033

3.7803 last

3.7634

3.7566 **

3.7393 *

3.7290 **

Number of asterisks represents the strength of support and resistance levels.